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By David Lang
The following stories may fire your imagination, pique your interest. Some say 1MDB is Malaysia's Sovereign Wealth fund; to others they asked what wealth fund when its total capitalization is just One million ringgit? But, then again, if you think you can look down on the pet idea of the Malaysian prime minister, think again. His idea has the potential of turning the now world famous - or shall we say, infamous - 1Malaysia Development Berhad into a giant corporation you can ever imagine - even bigger than Bill Gate's Microsoft! At least, it could be, if the original course is stayed. It was supposed to inspire Malaysians to think big besides advance growth, according to its slogans screaming out of giant bill boards throughout the country. 'Backed' by the finance ministry who owns it - which means money will never be the problem - it can only succeed. But..it didn't. It failed! That's why it may have piqued many people's curiosity. How can a company flush with cash and can borrow any amount (billions) anytime could fail? Well, this may be in line with your thinking. People have seen since its inception - I mean after its name was changed in 1999 from Trengganu Investment Authority (TIA) to the present - it hasn't done any business! I have used present tense deliberately. It hasn't done any business yet. I mean if you are in business you need to make profit or find ways to make profit. Or close shop. Oh, I had heard about their filings of tax returns and hiring of a couple of internationally known auditors to sign off on their balance sheets; but these concerned only the company's borrowings and interests to be paid. Two massive bonds were issued to the tune of $7 billions. To buy up power plants. Again I want to say if you are in business to make money even investing in independent Power Plants, it should be done with the view to making a profit. The decision may be long term or short term, it doesn't matter, it has to make money, or no deal. May be they have done the right thing. Maybe luck was not on their side. Still, the amount is staggering. I didn't know having or managing so much money can be a problem! But many - especially the Malays - have not given up hope yet. Yes, may be the durians are just ripening; may be they need time and may fall soon!
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!>The DRL Blog > News>Malaysia>opinion
Malaysia's Vision 2020
By:David Lang
Malaysia is supposed to be on its way to becoming a developed nation, by the year 2020. Will she make it (in less than five years -tick-tuck, tick-tuck)? There is no doubt the year 2020 is coming whether the country is ready or not, and if that will be the only requirement then Malaysia will attain that developed nation status on schedule. There is a question, though, Will Malaysia, or Malaysians, for that matter, be ready for that status as far as their affluence, quality of life's concern? Currently Malaysia's GNI per capita stood at US$10060. According to the World Bank high income economies are those with GNI per capita of US$12,745. And until Malaysians earn much more to be there, the developed nation status may not be achieved even by the year 2020. The futility of declaring a country a high income country when it's not, achieves nothing. May be even counter-productive; it lulls the country into false sense of success and premature celebration. Don't forget China reportedly overtook Japan as the world's second largest economy, but in actual fact China's citizens' ca pita income is a fraction of the incomes of the Japanese who earn $37,000. Chinese incomes range from $13,000. China's gross domestic product, taken as a whole, may beat Japan's, but in term of quality of life, and GNI per capita income, the criteria for a developed nation status, China still has a lot of catching up to do. That's why China still qualifies as recipient of Japan's economic aid meant for developing countries. Comparing with the Chinese per capita domestic product, Malaysia is even worse off. Unless the government bucks up and rushes to create more wealth for its citizens, the Vision 2020 dream may remain just that ..a dream.
Jun 29, 2013
'MCA go home' vs 'Where was DAP 13 years ago?' at Jonker Walk
What?! Gan qualified his being there as a survey, not to protest? Let alone to lead the protest? Did Mr. Gan Tian Loo realize that the MCA protest carries more weight than DAP protest many times over. The state government, being UMNO-led government, considers the DAP as the opposition working hand-in-hand with PAS and PKR to oust UMNO from power, rescinding the directive on the request from DAP leaders will make the party even more popular. I thought, at first, here come the MCA, finally to do what it's supposed to do. Then the expected happened. He got cold feet. The reporter who covered the protest reported Gan was suddenly cautious . He was like ..."I'm here to lend my support to..the .. no, wait! I am not here to support the traders - but just to do a quick survey! But I am glad to be standing here with the protesters but reporters, please put it down in black and white I am not, I repeat, am not here as part of the protest. This is the reason the MCA was shunned, I mean has been shunned by the Chinese. They do not represent the Chinese anymore. They cannot get things done anymore unlike in the old days. Gan admitted his meeting with the chief minister was fruitless, but would keep trying. Keep trying for what? He should stop embarrassing the MCA and reducing its credibility further by continuing to beg despite being rebuffed earlier. Again, this proved that the Malaysian Chinese Association has really completely lost its usefulness. If a small matter like Jonker Walk closure was beyond its power then, that 's it.
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Sep 18, 2016
Dhimmitude Prompted Cynthia Gabriel and Lim Guan Eng To Change
The way Gabriel went after the alleged corruption took our breath away. How she compiled and stitched together the case to make it believable to the French judge, is like climbing the Mt. Everest. But she must have been backed by hard evidence, and, of course, unflinching belief those who abused power to enrich self or cronies must be thwarted and brought to justice.
And her efforts paid off. Though the targets she has been after still walked!
While the French magistrate handling the case went on to make progress by charging some alleged wrong-doers, Gabriel's efforts, however, seemed to have stopped, or shall we say, waned.
If Gabriel is still passionate about her fight against corruption, she's silent about it. As if the case has been resolved and necessary punishment has been meted out to the guilty ones. And she was done.
People wonder what might have happened to Gabriel's passion against corruption. Has she been dealt a blow in any cases involving the submarine purchase kickback in court? Or has she been slapped with ban on oversea travel? Similar to what happened to Tony Pua? In short, has she been warned by the Malaysian authorities? Life made miserable? Maybe. Nobody knows, what made her take a u-turn from opposition friendly to anti-opposition.
To cause her as an activist to lose appetite to continue with what she has been doing so well which earned her admiration from Malaysians. Something had to happen to have caused such a shift. And in the end, even her principle seemed to have taken a beating, too.
When UMNO and its members have finally managed to 'nail' Lim Guan Eng, or at least they believed they did, by charging him for corruption over buying a bungalow at a below market price, Gabriel was among the early commentators who suggested that Lim Guan Eng should step aside temporarily until he was cleared of the charge.
She must have been involved in an accident which could have caused a concussion!
She seemed to have lost her resent memory.
Otherwise, she must have been aware that many UMNO leaders in Penang have been looking high and low for ways to find fault with Lim Guan Eng a long time already and always. And she must be aware that another UMNO prominent leader had tried to pin down LGE on Taman Manggit land and failed, and was sued, and he dropped his allegation and apologized to LGE.
With that, Lim Guan Eng the CM thought that would be the last he heard about Taman Manggit. No so fast, said UMNO and UMNO leaders.
And that she must have been aware that Lim Guan Eng was not charged with corruption over that Land in Burmah Road, as, if he was, the charged would not stick in any reasonable court of law. They charged LGE with trying to change a land elsewhere, from farming to housing use.
If Gabriel has any intelligence in herself - which we believe she does plenty - LGE was charged for moral, not criminal, offense. The approval that the committee chaired by the CM deliberated on was withdrawn by the government later. So no graft actually took place.
So what Gabriel and other NGO leaders did in calling for Lim Guan Eng to take leave during the investigations and arraignment in court, was clearly double-standard, when they didn't call Najib the prime minister to step aside during the investigations into the 1MDB scandals, including the 2.6 billion donation wired into his accounts.
Was this, her going after Lim Guan Eng, prompted by invisible hands or forces at play? Was she trying to get into the good book of certain parties?
This very question can also be posed to Lim Guan Eng, the CM of Penang (himself). Why so quick, people wonder, to chastise Jeff Ooi, and distance DAP from the offending MP? Does LGE say the DAP belongs to him - the DAP is him or he is the DAP - so if any DAP leader or member does anything wrong when representing or seen or made to be seen by its enemies, as representing DAP, does it mean the repercussion will affect him personally? Now it seems both Cynthia Gabriel and LGE share the same boat? They have become dhimmis? By their actions - though beyond their control - they have set back certain persons' standing and emboldened others.
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